National Slovak Society
National Slovak Society of the USA
"We Invite You To Join Our Fraternal Family"

Our Financial Picture

[ Financial Snapshot ] Five Year Financial Snapshot ]

2009 Annual Report - National Slovak Society

Net Admitted Assets
 
December
2009
 
December
2008
Bonds $344,107,962   $251,634,191
Preferred Stocks 3,798,101   4,419,821
Common Stocks 1,706,378   980,769
Mortgages On Real Estate 3,885,839   4,126,330
Real Estate Occupied
By Society
939,076   968,325
Certificate Loans 239,500   182,231
Cash On Deposit 11,724,682   4,502,730
Computer Equipment 15,426   30,852
Deferred Premiums 52,266   40,319
Investment Income 3,814,112   2,990,403
Totals $370,283,342   $269,875,971
Liabilities & Unassigned Surplus
 
December
2009
 
December 2008
Aggregate Reserves $344,507,707   $250,384,990
Certificate Claims 200,000   190,000
Deposit-Type Contracts 11,093,579   6,995,181
Refunds Due/Unpaid 175,000   165,000
General Expenses Due 1,034,850   924,100
Retained By Society As Trustee 742,940   604,859
Commissions Due 97,200   50,000
Asset Valuation Reserve 489,700   131,600
Interest Maintenance Reserve 3,243,644   3,269,740
Contingency Reserve 150,000   150,000
Unassigned Funds 8,548,722   7,010,501
Totals $370,283,342   $269,875,971
Summary Of Operations
 
December 2009
 
December
2008
Life Premium & Annuity Income $111,816,153   $47,061,892
Net Investment Income 17,852,003   14,814,890
Amortization Of Interest Maintenance Reserve 130,194   163,909
Income Sub-Total $129,798,350   $62,040,691
 
Death Benefits 1,008,063   $1,151,127
Matured Endowments 9,737   33,964
Annuity Benefits 26,359,902   24,404,182
Disability/Health Benefits 1,657   632
Surrender Benefits 201,628   185,803
Certificate Interest 10,451   30,160
Increase In Aggregate Life Reserves 94,122,717   30,615,890
Commissions 3,055,686   1,433,300
General Expenses 2,837,912   2,385,363
Insurance, Taxes,  Fees 96,149   79,032
Expense Sub-Total $127,703,902   $60,319,453
 
Net Gain From Operations Before Refunds To Members $2,094,448   $1,721,238
Refunds To Members (177,512)   (175,714)
Net Gain After Refunds To Members 1,916,936   1,545,524
Net Realized Capital Gain (316,033)   (1,054,572
Total Net Income $1,600,903   $490,952

Surplus Account
 
December
2009
 
December 2008
  Beginning Surplus
$7,160,501
  $6,903,345
Net Income From Operations
1,600,903
  490,952
  Change in Net Realized Capital Gains or (Losses)
416,129
  (745,277)
Change in NonAdmitted Assets  
(120,711)
  (614,141)
Change In Asset Valuation Reserve
(358,100)
  1,093,520
  Aggregate Write-ins for Gains and Losses in Surplus
0
  32,102
Net Change In Surplus
1,538,221
  257,156
Surplus At Year End
$8,698,722
  $7,160,501
 

Submitted by Linda M. Strom
National Secretary/Treasurer

 
   
Home | Calendar | Products | Programs | Our Family | Our Story | Our Mission | Contact Us | Guestbook | Privacy Policy | Search Our Site

© 2007 National Slovak Society   351 Valley Brook Road   McMurray   PA  15317-3337
Phone (724) 731-0094      Fax (724) 731-0145

This page was last updated March 1, 2010